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2 Rochester firms approved for expansion incentives by COMIDA
2 Rochester firms approved for expansion incentives by COMIDA
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QED Technologies International LLC and JK Property Solutions, LLC, were approved for tax incentives that will enhance growth for the two Monroe County companies.
The County of Monroe Industrial Development Agency (COMIDA) at its Tuesday board meeting granted a $108,160 sales tax exemption on a $3.8 million expansion and equipment upgrade by QED Technologies on University Avenue in the city of Rochester.
COMIDA also unanimously approved a property tax abatement, sales tax exemption and mortgage recording tax exemption worth a total of $258,573 for JK Property Solutions, an affiliate of steel supplier and fabricator J. Kozel & Son, Inc.
QED Technologies produces high-precision optics that meet the demands of semiconductor, defense and aerospace markets. By expanding fabrication capabilities, as well as research and development operations in Rochester, the company said it can help ensure the U.S. remains a leader in the field.
The expansion plans include the creation of 43 new jobs within three years. QED Technologies will move into an adjacent 20,000-square-foot facility and renovate the current warehouse, all of which the company says will create an optical fabrication innovation hub.
The incentives approved for JK Property Solutions will enable J. Kozel & Son to bring its Tool Ranch Ontario division and newly acquired N/S Fasteners under one roof.
The company intends to expand by 10,300 square feet its facility at 1150 Scottsville Rd. in the town of Chili with a total project cost of $2.8 million. Nine new jobs will be created.
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